DASH vs SHOP: Correlation
DoorDash (DASH) and Shopify Inc. - Class A Subordinate Voting Shares (SHOP) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DASH and SHOP?
On 3 years of weekly data the DASH/SHOP correlation comes out at 0.59, moderate. Recent behaviour matches the longer record: 0.61 over 1 year against 0.59 over 3. The 5-year figure is 0.64, and annualized covariance runs at 1576.0 %².
In DASH's tracked universe of 36 assets, SHOP sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months SHOP outperformed by 15.9 percentage points (-5.6% for DASH against +10.3% for SHOP).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
DASH vs SHOP: side by side
| DASH (DoorDash) | SHOP (Shopify Inc. - Class A Subordinate Voting Shares) | |
|---|---|---|
| 1-year return | -5.6% | +10.3% |
| 5-year return | +20.3% | -0.4% |
| Volatility (ann.) | 44.1% | 61.1% |
| Beta vs S&P 500 | 1.73 | 2.40 |
| Max drawdown (3Y) | -48.0% | -46.7% |
| Market cap | $101.0B | $200.3B |
| P/E (trailing) | 123.3 | 102.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | DASH | SHOP |
|---|---|---|
| 2022 | -67.2% | -74.8% |
| 2023 | +102.6% | +124.4% |
| 2024 | +69.6% | +36.5% |
| 2025 | +35.0% | +51.4% |
| 2026 | +2.4% | -4.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DASH and SHOP good diversifiers for each other?
Only partially. A correlation of 0.59 means DASH and SHOP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between DASH and SHOP?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.61 over the last year and 0.64 over 5 years.
Is SHOP a good diversifier for DASH?
Only partially. A correlation of 0.59 means DASH and SHOP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dash-vs-shop.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dash-vs-shop/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DASH correlations · SHOP correlations
